Vectura signs agreement with Aerami Therapeutics Inc

Chippenham, UK - 8 June 2020: Vectura Group plc (LSE: VEC) ("Vectura"), an industry leading inhalation CDMO, today announces the signing of a global licence and development agreement with Aerami Therapeutics Inc. (“Aerami”) for inhaled imatinib (VR325) for the treatment of Pulmonary Arterial Hypertension.

Aerami will be responsible for the overall development and commercialisation of inhaled imatinib, with Vectura providing development services expertise and a license to its FOX^® mesh nebuliser technology.

Under the partnership, Vectura will receive development fees, revenue from the provision of FOX^® nebuliser devices and mid-single digit royalties from global net sales of imatinib, together with regulatory and success-related milestone payments.  There is no upfront payment.

VR325, inhaled imatinib, was first developed by Vectura as part of its former speciality pharma pipeline. As the company pivoted to a strategy focused on the CDMO market, it announced it would cease further investment in this portfolio, instead providing development services to a more diverse range of biotech and pharmaceutical companies in the growing inhalation CDMO space.

Today’s announcement provides an opportunity for Vectura to realise value from its historical research and investment in VR325, whilst also securing new CDMO development services revenue from the product’s further development with Aerami.

Will Downie, Chief Executive Officer of Vectura, commented: “Pulmonary Arterial Hypertension is a rare, progressive, fatal disease with approximately 500-1000 new cases diagnosed each year in the U.S. alone according to the National Organization for Rare Disorders¹. In working together with Aerami, this programme has the potential to impact the lives of patients around the world. Our deep inhalation expertise, especially now as a CDMO, perfectly complements the scientific capability of Aerami in the biotechnology field. We look forward to developing a strong partnership for years to come.”